Facebook IPO Sees 500 Million Shares Traded On First Day Of Trading

Posted on May 19 2012 - 6:04am by Editorial Staff

Facebook ends the first day at $38.37, up by 0.37 (0.97%) – almost the actual price the company sets, making the company total valuation to $104 billion with an $18.4 billion initial public offering. Facebook starts its first day of trading with $42.12 per share price, up 4 points (10.23%), with later half did the trading at $38 and it remains stable most of the day. According to CNBC, it also became the first IPO to see 500,000,000 shares (500 million shares) change hands in the first day of trading.

The day sees a lot of hitch up and down not only for the social giant but also for other tech companies. Furthermore, an interesting piece of news also comes into existence that some Facebook engineers hacked Nasdaq opening bell button, updates Zuckerberg’s status on FB wall In real time.

 

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.